American Campus Communities Announces Retail at Chestnut-Square

February 15, 2013

A rendering of Chestnut Square

Drexel University and American Campus Communities, Inc. (NYSE:ACC) adds local flavor to Chestnut Square, the newest urban mixed-use housing, with the announcement of featured eateries Zama’s second location coZara, Shake Shack®, Zavino and Joe Coffee.

“The addition of these acclaimed retail tenants to Drexel University and the surrounding communities will expand the rich and diverse culinary options available in the University City area,” said Drexel University President John A. Fry. “We are proud to have tenants of this quality and character on our campus and believe that we have created a unique retail destination for the city at large.”

This mixed use block will transform Chestnut Street between 32nd and 33rd Streets into a new gateway for Drexel University and University City, featuring approximately 361,200 square-feet of retail and service space along with urban living. The addition of these locally and regionally owned restaurants will provide residents and visitors with culinary authenticity and award-winning excellence within a diverse price range.

coZara
Chef Hiroyuki “Zama” Tanaka, owner of Zama, a Rittenhouse Square sushi restaurant best known for palette pleasing dishes with an elegant aesthetic, will open the restaurant’s second location coZara (Japanese for small plates) in Chestnut Square. Zama has served Philadelphia at its 19th Street location and after only three years was recently proclaimed among the “50 Best Restaurants in Philadelphia in 2013” by Philadelphia Magazine. Chef Tanaka describes coZara as a traditional Japanese Izakaya featuring noodles ramen, yakitori and specialty sushi. For more information visit zamaphilly.com

Shake Shack®
Renowned NYC restaurateur, Danny Meyer, and Union Square Hospitality Group (USHG) are proud to announce the celebrated burger stand’s newest location in Chestnut Square, set to open late summer. In addition to quality ingredients, an authentic commitment to sustainability, recycling and giving back to the community, Shake Shack®, was recently distinguished in Bon Appétit’s “20 Most Important Restaurants in 2013.” In keeping with Shake Shake Shack® is a modern day “roadside” burger stand known for its all-natural burgers, flat-top dogs, frozen custard and more. For more information visit shakeshack.com

Zavino
Zavino, a local Philadelphia wine bar and eatery previously featured in the “Top 50 Restaurants” by Philadelphia Magazine, showcases a second location at Chestnut Square. The original location opened in 2009 in the Midtown Village neighborhood and features homemade pastas, seasonal small plates and Neapolitan style pizza. For more information visit zavino.com

Joe CoffeeJoe, a Manhattan-based, family-owned specialty coffee shop, will open a 10th location in Chestnut Square in late summer. Since opening in 2003, this cup of Joe has racked up rave reviews from New York Magazine to The Los Angeles Times. Joe touts their dedication to making flawless coffee served with warm hospitality and has been named one of the “Best U.S. Coffee Bars” by Food & Wine, listed as one of “10 Outstanding Coffee Bars in New York City” by The New York Times, and has had a number of articles, mentions and awards besides. For more information visit joenewyork.com

Eateries and retail at Chestnut Square not only mean quality and convenience in options for residents, but will also translate into approximately 40 additional jobs for the community. Michael Salove and Company (MSC) and ACC have teamed up to find the best mix of eateries and services to serve the Drexel University and University of Pennsylvania populations at Chestnut Square and are currently planning to add a dessert specialty shop and a variety of service and retail.

Designed by internationally acclaimed Robert A.M. Stern Architects, the development will include two eight-story buildings that front Chestnut Street while maintaining an open entry corridor to the adjacent Creese Student Center. The broad use of glass at the street level combined with limestone will continue Drexel’s progress toward creating a pedestrian-friendly, mixed-use campus district enlivened by retail amenities.

The building design will also include a 19-story residential tower at the corner of Chestnut and 32nd streets. The two-story street-level space will include retail outlets, neighborhood restaurants, and a new corner entry into the Barnes and Noble campus bookstore.

About American Campus Communities
American Campus Communities, Inc. is the largest developer, owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 140 student housing properties containing approximately 84,300 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consists of 169 properties with approximately 108,200 beds. Visit americancampus.com or studenthousing.com.

For more information on the eateries, contact Gina Cowart of American Campus Communities, Inc., at 512-732-1000.

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